Since 1975, shrewd business decisions and a policy of active development have enabled Perenco to pursue a strategy of steady expansion.
Founded by Hubert Perrodo (1944-2006), the Perenco Group began operations in the oil and gas industry in 1975, as a marine services company based in Singapore.
Within a few years the Group was providing supply boats, work barges, and tugboats to exploration and production companies in South East Asia and the Persian Gulf. Activities soon diversified into tanker storage and service barges.
In 1980 the Group founded Techfor drilling company and built a fleet of drilling rigs, jack-ups, swamp barges and land rigs. In 1982, the Group acquired French drilling company Cosifor.
Perenco then expanded into the upstream business, acquiring several proven onshore oil and gas fields in the United States, applying secondary-recovery techniques to enhance production.
After divesting its drilling interests in 1992, Perenco succeeded in building a worldwide portfolio of assets through a series of production acquisitions.